You can have this account with any Santander current account only excluding 123 mini
The instant access savings account funded from your Santander current account
A Regular eSaver lets you save up to £200 each month for 12 months. Funding must come as a standing order from your Santander current account.
You can apply for the Regular eSaver, in branch or by calling us, please see more details in the 'How to apply' tab.
You can manage this account using Online or Mobile Banking only. Your annual statements will be available to view in Online Banking only.
Eligibility
Account available to UK residents. Your Regular eSaver must be funded by standing order from your Santander current account (not including 1|2|3 Mini Current Account). Maximum one account per customer, account can only be held in sole name. You must be signed up or are going to be signed up for Online or Mobile Banking. Please ensure you have read the eligibility requirements section at the end of this page.
Interest rates
Account name Regular eSaver
AER/Gross rate (variable) for first 12 months from opening 5.00%
Up to and including 5 April 2016, you’ll receive interest net unless you have registered to receive interest gross. From 6 April 2016, you’ll receive interest gross, with no income tax deducted. Take a look at our information pages to learn more
Based on a regular payment of £200 per month for 12 months at 5.00% gross (variable), you could earn up to £64.66 in interest. If the interest rate changes within this time you may get more or less than this interest amount.
Your interest is calculated daily and paid annually on account maturity.
There is no cash card or passbook with this account.
A 14-day cancellation period applies.
After 12 months the account will become an Everyday Saver account currently paying 0.25% AER/Gross (variable) on balances from £1.
Funding your Regular eSaver
You can deposit up to the maximum monthly deposit limit of £200 in each month*. You can pay into the Regular eSaver by standing order from your Santander current account.
*Your month is calculated by the date that you open your Regular eSaver, e.g. you open the Regular eSaver on the 16th of a month, your month will run from 16th of one month to the 15th of the next month.
Deposits
You can make any number of standing order payments into the Regular eSaver in a month and your monthly deposit amount can vary each month, provided that the applicable monthly limit of £200 is not exceeded. You don’t have to deposit into the Regular eSaver every month
Paying in by standing order
Payments will be sent Monday to Friday. Please make sure that your standing order gives you enough time for your payment to reach the account before the last day of your funding month. For example if you set up your standing order for the last day of your month and this is a Saturday, your payment won’t reach us until the following month.
Withdrawals
You can withdraw funds from your Regular eSaver by transferring to your Santander current account using Online Banking. There’s no penalty for withdrawals but if you do make a withdrawal and then pay it back in, it will count towards your monthly deposit limit.
Eligibility requirements
The Regular eSaver account has a funding limit of £200 every month, if you deposit more than £200 in any month into your Regular eSaver, Santander reserve the right to revert your Regular eSaver into an Everyday Saver
The Regular eSaver must be funded from your Santander current account via a standing order, if you do not fund the account from your Santander current account, Santander reserve the right to revert your Regular eSaver into an Everyday Saver
The Regular eSaver and its interest rates are subject to availability. Rates are variable and effective as at 14 March 2016.
Top comments
themadgoose
16 Mar 169#38
Nationwide, £500 per month, 5%
TSB, £250 per month, 5%
First Direct, £300 per month, 6%
M and S, £250 per month, 6%
Santander, £200 per month, 5%
It's a nice way to stick £1500 a month in savings and they all add up. At the end of the year, pay them all into a Santander 123 account (you'll have 18k plus interest) and then repeat the exercise.
Two hours work, free money forever.
eslick
15 Mar 164#9
6% at First Direct and you don't have to bank with Santander :smiley:
cheaperbythe12
16 Mar 163#52
Correct. You may thinks it's convoluted but once set up it's free money. I have £1000 circulating through 5/6 different current accounts and achieve between 3-5%. Obviously you need money in these accounts as well, so say £2k in TSB (5%), £2.5k Natiownide FlexPlus (5% + bonuses like gadget and travel insurance, breakdown cover etc so covers the £10 monthly fee), £20k Santander etc, but by circulating the standing orders, you make some decent interest. It doesn't take long as it's online so just log on and then set it up (probably takes less than 20 mins for 4/5/6 separate accounts. It is a bit of time but once done, it's easy money and £100's a year. For wife and I, that goes towards flights and hotels for a holiday. Certainly better than nought!
All comments (99)
benjai
15 Mar 161#1
Wow 200 whole pounds a month?
kramer2088
15 Mar 16#2
good stuff
Jiming
15 Mar 162#3
Seems pretty decent if you have 123 current account(s) anyway. No online application is disappointing though.
shishiragarwal to Jiming
15 Mar 16#6
You can have this account with any Santander current account ony excluding 123 mini
Nanajane
15 Mar 16#4
I thought interest was going to be tax free up to a £1000???
And if you have done all the switching 5 per cent seems a nice return even if it is limited to £200 a month
Jane
52919
15 Mar 161#5
first £1000 interest tax free for 20% tax payers from next month?
rotor
15 Mar 161#7
If it's coming from a 123 account you're getting 3% anyway so the real interest boost is 2% on an average £1200 (before tax and assuming you put the max in) so £24/yr. Don't think I'll bother
shishiragarwal to rotor
15 Mar 16#11
extra 24/yr, i dont mind to be honest
Ferrari100 to rotor
16 Mar 161#26
But is you already have 20,000 in your 1-2-3 account it's a good deal.
Roger_Irrelevant
15 Mar 161#8
Bit rubbish IMHO, be better off sticking up to 12k a year in a stocks and shares ISA, over a long term you're very likely to receive a lot better interest than this, all tax free.
mcormack to Roger_Irrelevant
15 Mar 16#12
You mean 15.4K
snack_attack to Roger_Irrelevant
16 Mar 16#40
Note the key words 'very likely' folks.
As with all stocks and shares ISAs, there is some blurb about 'your capital being at risk' and 'you may get back less than you originally invested'.
Do it right and all is good, but do it wrong...
alex_dis to Roger_Irrelevant
16 Mar 16#66
Yeah, 'long term' but S&S ISAs are getting a battering at the moment. Maybe I shouldn't have invested so heavily in China :disappointed:
eslick
15 Mar 164#9
6% at First Direct and you don't have to bank with Santander :smiley:
nb2508 to eslick
16 Mar 16#25
Yes, but you have to bank with FirstDirect
ajisquire to eslick
16 Mar 16#29
£300 a month too
Askrulous to eslick
16 Mar 16#30
Thanks, might be worth the effort as I've aleady got an ISA with them, and setting it up should be a doddle.....mind you £117 interest over the year isn't really worth it
Boxer to eslick
16 Mar 16#62
But you do have to bank with First Direct. My experience with First Direct was appalling. I tried to switch and they cocked it right up. Three weeks and still no transfer.
I was lied to, had to wait the best part of 1/4 of an hour each time I called. I was told they all see the same system yet one department didn't know what the other was doing. I expect all banks will have a few people with bad experiences, but I wouldn't trust my money with FD. I understand they are the highest voted for bank in Briton. I'd like to know where you vote so I can cast my displeasure. :smiley:
Newbold to eslick
16 Mar 16#69
I think you may be living in the past. The Santander 123 account has always had good feedback from its customers (take a look at MSE). I use FD and Santander, have been for years, and I have to say that Santander has been faultless. Santander used to be awful (though they did regularly pay me £30 in compensation for their errors) but the 123 account, aimed at a different type of customer, has been excellent.
It also pays 3% on up to £20k for a fiver a month, as well as cashback - First Direct can't even begin to match that!
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Opening post
The instant access savings account funded from your Santander current account
A Regular eSaver lets you save up to £200 each month for 12 months. Funding must come as a standing order from your Santander current account.
You can apply for the Regular eSaver, in branch or by calling us, please see more details in the 'How to apply' tab.
You can manage this account using Online or Mobile Banking only. Your annual statements will be available to view in Online Banking only.
Eligibility
Account available to UK residents. Your Regular eSaver must be funded by standing order from your Santander current account (not including 1|2|3 Mini Current Account). Maximum one account per customer, account can only be held in sole name. You must be signed up or are going to be signed up for Online or Mobile Banking. Please ensure you have read the eligibility requirements section at the end of this page.
Interest rates
Account name Regular eSaver
AER/Gross rate (variable) for first 12 months from opening 5.00%
Up to and including 5 April 2016, you’ll receive interest net unless you have registered to receive interest gross. From 6 April 2016, you’ll receive interest gross, with no income tax deducted. Take a look at our information pages to learn more
Based on a regular payment of £200 per month for 12 months at 5.00% gross (variable), you could earn up to £64.66 in interest. If the interest rate changes within this time you may get more or less than this interest amount.
Your interest is calculated daily and paid annually on account maturity.
There is no cash card or passbook with this account.
A 14-day cancellation period applies.
After 12 months the account will become an Everyday Saver account currently paying 0.25% AER/Gross (variable) on balances from £1.
Funding your Regular eSaver
You can deposit up to the maximum monthly deposit limit of £200 in each month*. You can pay into the Regular eSaver by standing order from your Santander current account.
*Your month is calculated by the date that you open your Regular eSaver, e.g. you open the Regular eSaver on the 16th of a month, your month will run from 16th of one month to the 15th of the next month.
Deposits
You can make any number of standing order payments into the Regular eSaver in a month and your monthly deposit amount can vary each month, provided that the applicable monthly limit of £200 is not exceeded. You don’t have to deposit into the Regular eSaver every month
Paying in by standing order
Payments will be sent Monday to Friday. Please make sure that your standing order gives you enough time for your payment to reach the account before the last day of your funding month. For example if you set up your standing order for the last day of your month and this is a Saturday, your payment won’t reach us until the following month.
Withdrawals
You can withdraw funds from your Regular eSaver by transferring to your Santander current account using Online Banking. There’s no penalty for withdrawals but if you do make a withdrawal and then pay it back in, it will count towards your monthly deposit limit.
Eligibility requirements
The Regular eSaver account has a funding limit of £200 every month, if you deposit more than £200 in any month into your Regular eSaver, Santander reserve the right to revert your Regular eSaver into an Everyday Saver
The Regular eSaver must be funded from your Santander current account via a standing order, if you do not fund the account from your Santander current account, Santander reserve the right to revert your Regular eSaver into an Everyday Saver
The Regular eSaver and its interest rates are subject to availability. Rates are variable and effective as at 14 March 2016.
Top comments
TSB, £250 per month, 5%
First Direct, £300 per month, 6%
M and S, £250 per month, 6%
Santander, £200 per month, 5%
It's a nice way to stick £1500 a month in savings and they all add up. At the end of the year, pay them all into a Santander 123 account (you'll have 18k plus interest) and then repeat the exercise.
Two hours work, free money forever.
All comments (99)
And if you have done all the switching 5 per cent seems a nice return even if it is limited to £200 a month
Jane
As with all stocks and shares ISAs, there is some blurb about 'your capital being at risk' and 'you may get back less than you originally invested'.
Do it right and all is good, but do it wrong...
I was lied to, had to wait the best part of 1/4 of an hour each time I called. I was told they all see the same system yet one department didn't know what the other was doing. I expect all banks will have a few people with bad experiences, but I wouldn't trust my money with FD. I understand they are the highest voted for bank in Briton. I'd like to know where you vote so I can cast my displeasure. :smiley:
It also pays 3% on up to £20k for a fiver a month, as well as cashback - First Direct can't even begin to match that!